Agreement - Buy a Book of Business
Once a potential buyer has submitted an
offer and the Receiver has accepted the offer, an agreement will
need to be finalized. Below is a generic copy of a proposed
agreement to provide you with an outline of the various
requirements. Due to unique circumstances relating to each insurer,
the Receiver reserves the right to modify this agreement to
specifically address all aspects of the proposed transaction.
Sample - Buy a Book of Business Agreement
Note: Once the agreement is
executed, it will need to be submitted to the Receivership Court for
approval and then the approved buyer will need to file a notice of
transaction with the Florida Office of Insurance Regulation. If the
policies are located outside of Florida, obtain approval from the
insurance regulator in that state, if required.
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